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Order filled this morning when price gapped down at the open at $120.20. So including commission I'm long 200 shares with an average price of $120.24.

Yeah I've thought about that. Like right now, I'm gonna buy SPY at $121.06, so round down to $121. Dec $121 puts are $4.02 right now so that would be like $800 for two of them. The only sorta problem is you have to wait until price as gotten sort of close to your price in order to get a...

Order to buy 200 SPY @ $121.06.

yawn

wat

Gap up outta nowhere!

Haha, cuz that's so easy!

$3.31 above reentry.

Scottrade is not for day trading, but they are great for swing or long term trading. IB has better commissions for day trading but I believe they have inactivity fees if you don't trade a certain amount each month.

Just over $2 away from rentry.

Next fib buy would be here. Not sure if I'm going to play it this way or not, but here it is. It's $121.06. We just missed it on that one day. Do you see it? I'm sure some people will ask "why didn't you just buy it there? That was close enough." The answer is because there was no way of...

I agree with this.

I'll shoot you a PM in a bit.

I'm more comfortable doing this long term now which is why I stopped daytrading awhile back. Plus, it takes less effort and I don't have to be glued to the screen all day.

Well, since fibonacci numbers are MAGIC and PREDICT PRICE MOVEMENT, I wouldn't dare enter until price retraces to one of these magic seashell points :D So in this case, the next SPY fib retracement appears to be around 121 (actually just missed it the other day). Haha. In all seriousness...

The dividend was paid yesterday and my estimate was off by 29 cents, so the actual numbers are: SPY: $31,115.00 (closed) hedge: -$3,281 (closed) $27,834.00 (SPY gain + hedge loss) $1,223.60 (realized) $2,931.69 (realized) $1,129.72 (dividend) $3,562.22 (dividend) $5,221.55 (realized)...

You can't really say it was 60k/40k because I didn't know I was going to exit at a $40k gain initially. R/R can only be calculated if you have set points in mind before you enter the trade. And technically there was no "risk" either since there was no hard stop. Hedges and money...

http://www.elitetrader.com/br/?action=view&R_FirmID=223

So you're saying in this case the $15 shares would be called away?

SPY: $31,115.00 (closed) hedge: -$3,281 (closed) $27,834.00 (SPY gain + current hedge loss) $1,223.60 (realized) $2,931.69 (realized) $1,129.72 (dividend) $3,561.93 (estimated dividend to be paid on 10/31) $5,221.55 (realized) ------------------------ $41,902.49 (total for trade)...